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Main Trend

Cowabunga Forex System
Cowabunga Forex System

Current Trend

The trend was UP the entire day.

Today I only looked for long trades.

News events to watch for today:

Today’s Surf

2:45am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD went from negative to positive. This was a valid entry.

The entry was at the close of the candle at 1.3029 with a stop at the most recent swing low at 1.3012. Since I was 21 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3050.

Entry: Long at 1.3029 Stop: 1.3012 Target: 1.3050

4:15am EST– Unfortunately I was stopped out of my trade. (-17 pips).

6:30am EST– There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up and MACD went from negative to positive. This was a valid entry.

The entry was at the close of the candle at 1.3019 with a stop at the most recent swing low at 1.2988. Since I was 31 pips away from the nearest 50 or 00 level, I decided to put my initial target at 1.3050.

Entry: Long at 1.3019 Stop: 1.2988 Target: 1.3050

8:15am EST– Unfortunately my target wasn’t hit by this time. Since news was coming out at 8:30am EST, I decided to manually exit my trade. I got out at 1.3024. (+5 pips)

Cowabunga Forex System
Cowabunga Forex System

 

Trade Result: -17 +5= -12 pips R-Multiple: -1.00; 0.16

News events to watch for Friday:

For a complete list of news events check out our Forex Economic Calendar.
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